suggestions on funding your trading account for new traders

[newwurldmn]

i already learned that part. i started with 300 on robinhood. then moved to webull grew the account to about 7k in about a year and a half. then started adding alot of money to it.and when bear market started i failed to adjust since i never traded in bear market i went back from 30k to about 8k and had to pull money out for my mom's medical bills so that was also something i learned not to do.

trading with paper money is like riding a bycicle in videogames and then assumig you know how to ride a real bike.

im trying to feed the account to 5k because that would give me enough room to make more than 3-4 trades.

i was doing good. almost had my first green week and slowly creeping up until i made few mistakes.

i made 2 mistakes that got me stuck in long positions and now i can only use half of the cash...
so with 5k would give me some room if i make a mistake and im stuck i would still have cash to trade with.

You got the best answer as the first response to your question. You clearly didn’t like it and are unhappy with all the inferior answers after it.

As I said, if you were a good trader you would have understood this. I was not referring to being good at calling tops and bottoms, I mean good at understanding risk and opportunity.

 

[PPC]

this is my trading account and i expect to lose money so im planning to feed it as im getting better at it.
i need to grow it so i can make more trades per day because its a cash account.
and i miss alot of opportunities every day because i can make 3-4 trades and then im out.

Increasing trade frequency while having negative expectancy . . . .

. . . this forum never disappoints with entertainment.

 

[mute9003]

You literally contradicting almost every trading book out there.
Every one of them says to expect to lose money in the begining.

 

[deaddog]

You literally contradicting almost every trading book out there.
Every one of them says to expect to lose money in the begining.

But you are no longer at the beginning. You know that the problem isn't trading stategy or funding an account, the problem is you can't control your emotions.

 

[mute9003]

The problem is literally funding my account. As i stated in my original post.
Stop replying to my other posts in every post i make. My other posts are not related to this specific question i asked.
What the fuck. Can yall focus on the question being asked? And stop dragging shit from other posts.


Literally just asking for fuvking ideas on side hustles that work well with trading that can supplement my trading account in the learning stage.
I understand that everyone here is a genius and was profitable on the schedule as they planned in their second year of trading. But im not one of those people. Im taking longer to learn due to the limiying conditions in my life.

 

[mute9003]

And again. In every one of my posts.
To the attention seekers
"If you were a good trader"
If i was a good trader i would not be asking questions
Thanks captain obvious

 

[newwurldmn]

And again. In every one of my posts.
To the attention seekers
"If you were a good trader"
If i was a good trader i would not be asking questions
Thanks captain obvious

You don’t get it. You will remain poor.

 

[Laissez Faire]

In summary, you're short on:

1) Experience + trading skills

2) Capital

At this point in time, capital should be of no concern to you. Realistically, for an amateur retail trader figuring out this on his own 5 years of intense work is the absolute minimum from my point of view. 10 years is more like it. And you can trade realistically in the simulator which provides very realistic fills risking zero money. Trade like you would a real account. No averaging down or holding through deep drawdowns. Most people won't do this as they want the money NOW. I know I did. And it didn't work out that way.

There's a famous quote which I love that says, "There's no substitute for experience." And it's so true. There's no shortcuts here. You really need that experience and those thousands of hours of screentime through various market conditions, crashes, crises, bear markets, euphoric bull markets (current condition), etc.

When you know how to trade, you can fund a small account or trade with a bucket shop for a small sum. If you're good, they'll pay you.

So, think really, really hard on if you actually want to spend your next 5-10 years on something that might turn out to be a dead end. That's only a rational choice if you truly love this as a hobby and don't mind spending the time on it anyway. But from a financial perspective and even a lifestyle perspective, it's not a very rational decision.

For most people, the pursuit of short term trading will only lead to losses, stress and frustration.

If you want a happy life, give up on day trading and rather invest your money into index funds or similar. Considering the hours required to become an able trader the odds of coming out ahead with this approach is far better.

 

[mute9003]

If this was short term i would have quit 2 years ago after the big loss and bear market.
Ive been reading for most of this time with very light trading.
I do well when i follow rules.
But im at the stage where i trade good for some time and then one or two bad trades set me back. Because sometimes my discipline fails.
Im taking small trades.
never said anywhere im looking to make money short term. Its ridiculous how every statement i make people always chose to interpret it in the stupidest possible way. Like the dude above you.
Where he somehow assumed that i expect to lose on every single trade because i simply said i expect to take losses. Just like every starting trader.
im implementing what i have learned in last fer years mostly from books and youtube,
And some here. (Problem with here is there is more junk content and people bickering back and gorth about some unrelated topic) i have to read 10 pages of nonsense to get to that single post 50 pages deep into a discussion.
Maybe mods could clean up threads that reach certain number of replies in them because there is a high chance that out of 50 replies about 30 of them are off topic

 

[deaddog]

The problem is literally funding my account. As i stated in my original post.
Stop replying to my other posts in every post i make. My other posts are not related to this specific question i asked.
What the fuck. Can yall focus on the question being asked? And stop dragging shit from other posts.

Get a second job.
Line of credit
Friends and Family